• Gold: 1,245.98 -0.28
  • Silver: 14.67 -0.01
  • Euro: 1.135 0.000
  • USDX: 97.1 -0.311
  • Oil: 49.38 -1.84

January 10: Gold Gains on Concerns About China’s Bond Buys

Chris Mullen
|
Wednesday, January 10th

 

Close

Gain/Loss

Gold

$1317.40

+$3.40

Silver

$16.98

-$0.02

XAU

86.07

+1.32%

HUI

194.29

+1.04%

GDM

650.01

+0.39%

JSE Gold

1313.06

+26.39

USD

92.32

-0.19

Euro

119.57

+0.18

Yen

89.79

+0.91

Oil

$63.57

+$0.61

10-Year

2.552%

+0.004

T-Bond

150.03125

-0.1875

Dow

25369.13

-0.07%

Nasdaq

7153.57

-0.14%

S&P

2748.23

-0.11%

 

The Metals:

 

Gold fell $5.50 to $1308.50 in early Asian trade before it jumped up to as high as $1327.10 at about 6AM EST and then drifted back lower in New York, but it still ended with a gain of 0.26%. Silver rose to as high as $17.185 and ended with a loss of 0.12%.

 

Euro gold rose to about €1102, platinum gained $3 to $969, and copper climbed 2 cents to about $3.22.

 

Gold and silver equities gained roughly 1% in the first half hour of trade and remained near that level for the rest of the day.

 

The Economy:

 

Fed’s Bullard: Shift to price-level targeting ‘not realistic’ yet  MarketWatch

U.S. wholesale inventories rebound strongly in November  Reuters

Fed's Evans says wanted to wait until midyear for rate hike  Reuters

U.S. import prices climb 3% in 2017 - biggest increase in six years  MarketWatch

 

Tomorrow brings Initial Jobless Claims and PPI.

 

The Markets:

 

Oil rose 1% after the Energy Information Administration reported that crude inventories fell 4.9 million barrels, gasoline inventories rose 4.1 million barrels, and distillates added 4.3 million barrels.

 

The U.S. dollar index fell along with treasuries and the Dow, Nasdaq, and S&P on talk that China may slow or halt purchases of US bonds.

 

Among the big names making news in the market today were Ford, Kodak, Sears, Lennar, and Ripple.

 

GATA Posts:

 

Goldman says cryptocurrencies may succeed as money in some backward places

South African gold miners near silicosis lawsuit settlement

Asian central banks push back, sending dollar bears a warning

 

The Statistics:

As of close of business: 1/9/2018

Gold Warehouse Stocks:

9,205,743.760

-4,369.916

Silver Warehouse Stocks:

245,595,670.671

+1,122,865.37

 

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 

 

Product name

Total Tonnes

Total Ounces

Total Value

New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx) AND Mexico Stock Exchange (BMV)

SPDR® Gold Shares

831.908

26,746,669

US$35,295m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

138.13

4,441,056

US$5,847m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

152.66

4,908,200

US$6,463m

Australian Stock Exchange (ASX)

Gold Bullion Securities

11.16

358,789

US$473m

Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 2.952 tonnes.

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 247.80: No change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 9,877.69: No change from yesterday’s data.

 

The Miners:

 

Endeavour Silver’s (EXK) 2017 production results and Hecla’s (HL) 2017 production results were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  McEwen

MUX +6.88% $2.33

2.  Hecla

HL +5.45% $4.26

3.  B2Gold

BTG +4.56% $2.98

 

LOSERS

1.  Northern Dynasty

NAK -3.45% $1.68

2.  Paramount

PZG -2.34% $1.25

3.  Franco-Nevada

FNV -0.98% $77.72

Winners & Losers tracks NYSE listed gold and silver mining stocks that trade over $1.

       

Please see Yahoo’s Mining/Metals News Wire for all of today’s mining news.

 

- Chris Mullen, Gold Seeker Report

 

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